PAYMENTS will be cut by HALF for some pensioners as the HMRC tries to correct a catalogue of catastrophically expensive cock-ups and blunders which went unseen and unchecked for decades.
Although they have done NOTHING wrong some pensioners will see £10,000 wiped from their nest-egg.
The string of payment errors made by HMRC dating back over four decades will hit tens of thousands of British pensioners.
The Inland Revenue cock-ups came to light during a ‘data clean-up’ of retirement benefits.
Some will see their retirement income plummet by 50 percent.
Missed payments range from £50 a year, to £10,0000 over the course of a person's lifetime.
But HMRC confirmed those who had not received correct amounts will receive back-dated payments on their pensions and receive future increases.
The errors came about from poor bookkeeping and missing crucial paperwork
Tory peer Baroness Ros Altmann, a former pensions minister, said: "It is almost beyond belief that thousands of pensioners can suddenly be told they will have their income cut because of mistakes by those supposed to be in charge of paying them the right amount.